Iran's Ali Khamenei, who based iron rule on fiery hostility to the U.S. and Israel, dies at 86

In this article LMT NOC GD UAMY Follow your favorite stocks CREATE FREE ACCOUNT A woman holds an illustration depicting Iran's Supreme Leader Ayatollah Ali Khamenei as others wave Iranian national flags during a demonstration in support of the government and against US and Israeli strikes outside a mosque in Tehran on February 28, 2026. Atta Kenare | Afp | Getty Images The death of Iran's Supreme Leader Ayatollah Ali Khamenei sets in motion a formal succession process that could have significant implications for the country's political stability, sanctions outlook and already strained economy. Khamenei was killed in a joint military strike by Israel and the United States, Iranian state media confirmed. At the time of his death, Khamenei, 86, was at his office within his residence, Iran's Fars News Agency said on Telegram . He assumed power following the death of Ayatollah Ruhollah Khomeini in 1989, inheriting a revolutionary state still consolidating itself after the Iran-Iraq war. Khamenei was not seen as the obvious successor. He lacked the religious credentials required by the constitution at the time, Karim Sadjadpour, a policy analyst at the Carnegie Endowment for International Peace, noted in his study on Khamenei . Just months before Khomeini's death, the constitution was revised to state that the Leader needed only to be an expert in Islamic jurisprudence with political and managerial ability — a change that enabled Khamenei's elevation . Over time, the office of the supreme leader consolidated authority over Iran's key institutions. While presidents changed through elections, Khamenei retained control over the military, judiciary, state broadcasting and major strategic decisions (Article 110). Khamenei championed a "resistance economy" to promote self-sufficiency amid Western sanctions, remained wary of engagement with the West, and cracked down on critics who argued his security-first approach stifled reform . His rule faced repeated tests. In 2009, mass p...